Son of Former Chairman Gets a Top Post at J. P. Morgan

J.P. Morgan & Co. has named Michael E. Patterson, son of a former chairman of the bank, as vice chairman and a director.

Mr. Patterson, 53, has a strong legal background but has worked as a generalist on many issues at Morgan. He had been the bank's chief administrative officer since November 1994. He joins Rodney B. Wagner, who is retiring at the end of January, Roberto G. Mendoza, and Kurt F. Viermetz as vice chairmen.

Mr. Patterson joined Morgan as general counsel in 1987 after 18 years with the New York law firm of Debevoise & Plimpton. A graduate of Harvard College and Columbia University Law School, Mr. Patterson is the son of Elmore C. Patterson, who served as chairman of the bank in the early 1970's.

Over the past year, he has helped Morgan on a variety of projects, most notably the disposition of several of its securities processing businesses.

Mr. Wagner's departure caps a 41-year career at Morgan, during which he was instrumental in helping convert the bank into one of the world's top international deal makers, arranging multibillion-dollar sovereign loans and establishing Morgan as a major force in global mergers and acquisitions and capital markets.

Mr. Wagner was particularly instrumental in helping expand Morgan's activities in emerging markets and played a key role in arranging developing-country debt restructurings through the 1980s.